Michael, my read of the intraday action is that there is some
moderate buying, possibly institutional, in the low
14's. (at any rate there
are a lot of 5-10k blocks, a few 15's, and a couple of larger
ones right at the beginning of the stabilization in the low
14;s). Total daily volume is already more than twice the usual
per Yahoo. This *could* be what
I mean by a "high volume bottom", given that this is not a
fast-moving stock in general. It certainly isn't a freakout
downspike, or key reversal... but those are hard to
catch and can turn out to be falling knives if you do! And this
stock may not be exciting enough to prompt one of those. (I hope
it isn't, now! OK, I hope you get you're book value, but I hope
it only lasts a microsecond and I'm not looking!)
I don't like to assign too much
importance to block size (I'm strictly an amateur here, and
market makers presumably shift large blocks between themselves
at times). But it looks good enough for me to take a small
initial position at 14 1/4.
Now that PC's are so cheap, there will be more pressure on
monitor margins... anyone see BMC getting hurt a little here?
Dell selloff probably magnifies worries about any PC-related
stock among some holders?
HB |
